In Singapore, Lee Kuan Yew Built a Welfare State That Works

Singapore a welfare state? It is more a properly managed, uncorrupted free market economy state. Such economies require close and strict refereeing of that game to prevent both corporate monopoly and labor Marxist takeover and destruction. Think of it as an economic regulation infrastructure.

The key is to ensure that one generation won’t bankrupt future generations by living beyond its means. Obituaries of Lee Kuan Yew, the first prime minister of Singapore who died this week at age 91, broke down into roughly two camps: He was a hero, building a “clean as Disneyland” republic that runs like a Swiss watch. He was an autocrat, who built a successful economy but crushed opponents and journalists who challenged his “managed” democracy. Both statements have big elements of truth. I take a third approach, based on a fascinating visit I made to Singapore earlier this month. Lee Kuan Yew, a member of Britain’s left-wing Labour party while a student at Cambridge, managed to create a workable welfare state, one that provides for people without creating Social Security–like Ponzi schemes or unsustainable entitlements. Both liberals and conservatives have much to learn from what he built, the details…